Renewables Account for Almost 50% of all New U.S. Energy in 2012

In 2012, renewable energy – largely wind and solar – accounted for nearly 50 percent of all new electric generation put on the U.S. grid, found a new Ernst & Young report. About 13.1 gigawatts of wind were added to the grid last year, as well as 3.3 gigawatts of photovoltaics (PV).

Michael Bernier of Ernst & Young said, “What’s important to note is that the $44.2 billion invested is not representative of the industry’s true expansion. Solar technology, for example, is increasingly cost effective. As prices fall, the initial investment goes a lot further.”

As for the future, the report says “new financial structures to find residential and commercial solar may gain traction, making it easier for companies to finance solar.”

About Gaylen Davenport

Worldwide provides clients complete turnkey energy efficiency evaluation and solutions. Our focus is in energy saving measures that offer the most savings and financial incentives, creating a rapid return on investment. What sets Worldwide apart is our ability to design, install and certify our installations to qualify for the Federal tax incentives for energy efficiency, then provide the documentation necessary to secure the tax incentives. Worldwide has recently entered the renewable energy field at the request of several of our clients.